In a speech on Thursday, Powell said he was concerned about the ballooning amount of United States debt. Powell , addressing the Economic Club of Washington in a panel talk, also said the Fed’s balance sheet will be reduced significantly from where it is now but also reiterated that policymakers were prepared to wait before hiking rates again.
Elsewhere, market focus was also attuned to news that trade talks between the world’s two largest economies could soon move to higher levels. U.S. Treasury Secretary Steven Mnuchin said Thursday that Vice Premier Liu would most likely visit Washington later in January for further negotiations.
On the data front, the latest CPI figures as well as core CPI data for December are due at around 8:30 a.m. ET.
—CNBC’s Sam Meredith contributed to this article.

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